Evonik's Japanese Plant Put into Operation! Well-Known German Machinery Manufacturer Files for Bankruptcy! BASF Partners with Andritz

International News Roundup

News Highlights

• Raw Materials: PetroChina Northwest Chemical's polypropylene products exported to Africa for the first time
• Automotive: Evonik launches new specialty alumina plant to deepen Asian strategic layout
• Recycling: Netherlands allocates €18 million for plastic recycling; 9 projects cover full chain including sorting and chemical recycling
• Machinery: German Wipa becomes first machinery manufacturer to file for bankruptcy amid plastic recycling crisis
• Anti - Dumping: Eurasian Economic Union imposes 5 - year anti - dumping duties on Chinese titanium dioxide
• Macroeconomics: Beshear: U.S. no longer considering 100% tariff hike on China

Detailed International News

1. Plastic Recycling Crisis Hits: Germany’s Wipa Becomes First Machinery Manufacturer to File for Bankruptcy

German plastic recycling equipment manufacturer Wipa Werkzeug - und Maschinenbau GmbH has filed for bankruptcy. Founded in 1994, Wipa specializes in producing equipment for the plastic recycling industry. Its product portfolio includes compactors, dryers, sorters, silos, shredders, granulators, etc.

The company is located in Stadtlohn, western Münsterland region of Germany, near the Dutch border. Wipa initiated interim bankruptcy proceedings on October 1, just one week before it was scheduled to appear at the 2025 K Show in Germany.

Wipa stated that the bankruptcy filing resulted from a weak industry environment, declining sales, and rising costs. Its new equipment business underperformed expectations, while high inventory levels tied up significant working capital.

“The current situation is undoubtedly extremely challenging,” said Johannes Wissing, General Manager of the company. “We must adjust costs and need an investor to get the company back on track. We hope our long - standing business can continue to operate well in the future.”

2. BASF and Andritz Collaborate to Launch Carbon Capture Project in Aarhus Using OASE® Blue Technology

On October 27, BASF SE and the ANDRITZ Group officially signed a license agreement to deploy BASF’s proprietary gas treatment technology OASE® Blue in a carbon capture project in Aarhus, Denmark.The project aims to capture approximately 435,000 tons of carbon dioxide (CO₂) annually from the flue gas emissions of a local waste - to - energy facility, supporting the city’s strategic goal of achieving carbon neutrality by 2030.

Andritz has been designated as the main supplier of the carbon capture plant and has started preliminary engineering work. However, the progress of the project depends on obtaining financial support from Denmark’s CCS Fund, which will provide necessary funds for project implementation.

3. Eurasian Economic Union Imposes 5 - Year Anti - Dumping Duties on Chinese Titanium Dioxide

Recently, the Department for Protection of the Internal Market of the Eurasian Economic Commission issued Announcement No. 2025/454/AD38. In accordance with Resolution No. 96 of the Eurasian Economic Commission dated October 14, 2025, it imposes a 5 - year anti - dumping duty on titanium dioxide (Russian: Диоксид титана) originating from China. The specific duty rates are as follows:14.27% for LB Group Co., Ltd., Henan Billions Advanced Material Co., Ltd., LB Lufeng Titanium Industry Co., Ltd., LB Sichuan Titanium Industry Co., Ltd., and LB Xiangyang Titanium Industry Co., Ltd.16.25% for Shandong Dawn Titanium Industry Co., Ltd. and other Chinese producers.

4. Evonik Launches New Specialty Alumina Plant to Deepen Asian Strategic Layout

Evonik recently announced the official commissioning of “Alu5”, its first advanced fumed alumina production plant in Yokkaichi, Japan.The completion of this plant is a key milestone in Evonik’s strategic layout, aiming to better serve the Asian market with advanced alumina solutions. With an investment of tens of millions of euros, it demonstrates Evonik’s firm commitment to driving innovation, ensuring supply, practicing sustainable development concepts, and serving customers locally in Asia—one of the world’s most dynamic regions.

5. Netherlands Allocates €18 Million for Plastic Recycling; 9 Projects Cover Full Chain Including Sorting and Chemical Recycling

To address industry crises and promote the circular plastic economy, the Dutch government launched large - scale funding support in 2025 through the Circular Plastics NL (CPNL) program. Implemented by the Netherlands Enterprise Agency (RVO) on behalf of the Ministry of Climate and Green Growth, this program is part of the National Growth Fund (NGF).Launched in 2023, CPNL aims to achieve 100% plastic circularity by 2050. It covers 8 focus areas: system integration and design, characterization/sorting/cleaning, mechanical recycling of polyolefin packaging, styrene material recycling, chemical depolymerization, thermochemical recycling, incubators, and circular spaces.Overview of 2025 funding: Grants totaling over €18 million were awarded to 9 plastic circular economy projects, nearly twice the amount of the previous round. It also leveraged over €10 million in private co - investment, demonstrating the willingness of enterprises and knowledge institutions to invest in the circular plastic economy.

Due to some applications failing to fully meet evaluation criteria, CPNL’s 2025 budget of €42 million was not fully allocated. The remaining approximately €24 million is planned to be reallocated to the 2026 funding round to continue supporting industry innovation.

6. PetroChina Northwest Chemical's Polypropylene Products Exported to Africa for the First Time

With strong support from Lanzhou Petrochemical, Northwest Chemical Sales Company and Northeast PetroChina International Business Co., Ltd. collaborated closely to realize the first export of 61 tons of Lanzhou Petrochemical’s polypropylene product SP179 to the Republic of Côte d’Ivoire in Africa. This marks the beginning of PetroChina’s efforts to open up new African markets for its petrochemical new materials.

Overseas Macroeconomic Information

Beshear: U.S. no longer considering 100% tariff hike on China

On October 26, Chinese and U.S. economic and trade teams concluded a two - day consultation in Kuala Lumpur, Malaysia. Reuters reported that this was the fifth face - to - face consultation between the two sides since May this year. After the talks, Beshear told U.S. media that the two sides had reached a “very substantive framework agreement” and that the U.S. was “no longer considering” a 100% tariff hike on China.

Trump says he will not run as vice presidential candidate in 2028 election

U.S. President Trump ruled out the possibility of running as a vice presidential candidate in the 2028 election, despite some supporters urging him to find ways to bypass the constitutional limit of no more than two presidential terms. Trump stated on Air Force One on Monday that he had ruled out this possibility.

Trump: Decision on next Federal Reserve Chair expected by end of this year

U.S. President Donald Trump said he expects to make a decision on the next Federal Reserve Chair by the end of this year. When asked whether Kevin Hassett, Kevin Warsh, Christopher Waller, Michelle Bowman, and Rick Rieder are contenders for the position, Treasury Secretary Scott Beshear confirmed this.

Beshear: Pool of candidates for next Federal Reserve Chair narrowed down to five

U.S. Treasury Secretary Beshear: The pool of candidates for the Federal Reserve Chair has been narrowed down to five. He hopes to submit a good list to Trump after Thanksgiving and will conduct a second round of interviews with the candidates.

Bernanke, Yellen and other economists urge U.S. Supreme Court to overturn Trump’s majority tariffs

A group of prominent economists with diverse political stances, including former Federal Reserve Chairs Ben Bernanke and Janet Yellen, urged the U.S. Supreme Court to overturn most of Trump’s global tariffs, stating that these tariffs are based on a misunderstanding of the global economy.

In a brief filed on Friday, nearly 50 economists argued that the U.S. trade deficit with other countries is predictable and not an “unusual and extraordinary” threat as claimed in the emergency law cited by the Trump administration. Furthermore, they stated that tariffs cannot close these deficits.

“Reciprocal tariffs do not ‘solve’ trade deficits,” they wrote. “Instead, they will have a multi - trillion - dollar impact on the economy, which will affect every household and state.”

Quick Review of U.S. September CPI Data

U.S. core inflation rose less than expected in September, increasing the likelihood of the Federal Reserve continuing to cut interest rates next week. Core CPI rose 0.2% month - on - month, the slowest pace in three months, and 3% year - on - year.

The lower - than - expected data may further prompt policymakers to cut interest rates again in December, especially as the government shutdown continues and other official data cannot be released.

Price Information

CNY/USD central parity rate rises to highest since October 15, 2024

The central parity rate of CNY against USD was reported at 7.0881, an increase of 47 pips. The central parity rate of the previous trading day was 7.0928, the official closing price of the previous trading day was 7.1230, and the overnight trading price was 7.1215.

Upstream Raw Material USD Market Prices

CFR Northeast Asia: USD 765/ton (-USD 15/ton); CFR Southeast Asia: USD 755/ton (-USD 15/ton)

Northeast Asia Propylene: FOB South Korea average USD 740/ton (stable); CFR China average USD 760/ton (stable)

Northeast Asia refrigerated cargo CIF price: Propane USD 481 - 483/ton; Butane USD 517 - 519/ton

South China, China refrigerated cargo CIF price (early November): Propane USD 531 - 541/ton; Butane USD 531 - 541/ton

Taiwan, China refrigerated cargo CIF price: Propane USD 481 - 483/ton; Butane USD 517 - 519/ton

LLDPE USD Market Prices (CFR Huangpu)

Film: USD 830 - 870/ton; Injection Molding: USD 935/ton

HDPE USD Market Prices (CFR Huangpu)

Film: USD 860 - 900/ton; Injection Molding: USD 820/ton; Blow Molding: USD 830 - 860/ton; Pipes: USD 1010/ton

LDPE USD Market Prices (CFR Huangpu)

Film: USD 1030 - 1050/ton; Coating: USD 1280/ton

PP USD Market Prices

Injection Molding: USD 840 - 915/ton (CFR Huangpu); Copolymer: USD 850 - 870/ton (CFR Nansha)

Film Grade: USD 1015/ton (CFR Huangpu); Transparent Grade: USD 1035 - 1125/ton (CFR Huangpu); Pipes: USD 1100/ton (CFR Shanghai)